RFP
Management
Services

Are you in need of facility services, but you don’t know where to start?

What about IT consulting, but you don’t know the best providers?

Do you require project management support, but you don’t know who specializes in your industry?

‍

A request for proposal (RFP) is the solution in each of these situations, but an RFP is only effective if it is well crafted and put in front of the right prospective vendors.

At Dryden Group, we provide indirect RFP management services that ensure your RFP is constructed effectively and that it gets to the right vendors for the services you need. Over the long-term, working with an RFP management company during the RFP process can deliver huge savings and benefits to your organization.

`What is an RFP?`

‍

An RFP is a document that outlines your company's needs and what you are looking for from a service provider over an extended period or for a specific project.

The purpose of an RFP is to identify a vendor that is an excellent match for the goals of your business and the services or products you need.

Before you begin the drafting process, you should think about some of the qualities or abilities you want your prospective vendor to possess.

‍

The Purpose of an RFP

A few examples of the many reasons a company may initiate an RFP include:

The need for new equipment or other related supplies.
The need for consulting or professional advice.
Outsourcing indirect functions like accounting, payroll, janitorial or information technology.
Seeking new suppliers to meet needs that an existing vendor cannot fulfill.

RFP vs. RFQ

It's important to note the difference between a request for quotation (RFQ) and an RFP. An RFQ typically solicits a price request for a single product or service. At the same time, an RFQ is a more comprehensive process that entails a more detailed picture of the future relationship and the benefits the vendor is providing.

Subscribe to our Newsletter

Thank you! Your submission has been received!

Oops! Something went wrong while submitting the form.

Creating the Right RFP

Creating the right RFP is an art form. If you fail to ask the right questions or solicit the right information, you may not have all you need to take a next step in the process. If you ask for too much, you may lead qualified vendors to pass on submitting proposals.

Some introductory elements of an RFP might include:

A project summary with clear priorities and goals
Up-to-date information about your company
The details surrounding your budget
Implementation timelines and delivery schedules
An overview of your vendor selection process
The contact person for questions involving your RFP

The core components of an RFP will consist of the following:

A project summary with clear priorities and goals
Up-to-date information about your company
The details surrounding your budget
Implementation timelines and delivery schedules
An overview of your vendor selection process
The contact person for questions involving your RFP

At Dryden Group, we lean on our depth of experience to provide outstanding indirect procurement RFP management services. We’ve worked with companies across a broad range of industries and helped them start the RFP process by creating the right questions and asking for the right information.

Inviting the Right Vendors Into the Process

By collecting indirect spend data from across your organization, you can find inefficiencies and opportunities for savings. For example, consolidating services like travel or tech support can improve business operations and increase profits. At Dryden Group, our procurement consulting team has a database of vendor records and indirect spend statistics to develop a long-term approach to indirect spend, benchmarking and improving your products and services.We're Strategic Sourcing Consultants.

Through our nearly two decades of experience as an RFP management company, we’ve also had a chance to work with many of the vendors that typically respond to RFPs. Our experience and knowledge in RFP creation consulting allows us to recommend the right vendors to invite into the RFP process.

Vendors responding to your RFP will detail the strengths and benefits of their products or services, making a case as to why they're a good fit. These responses provide a clear comparison between the competitive advantages of potential suppliers. It is also usually an excellent time to discuss potential nondisclosure agreements if your company requires them during the invitation stage.

Why is indirect spend hard to manage?

The considerations with indirect spend are nonspecific to certain categories and are characterized by unclear contract terms, various pricing structures and many transactions, which make management an ongoing focus. Indirect spend categories are widespread throughout an organization, making tracking and classification complex.

Negotiating Favorable Contracts

The final step in any RFP process is the negotiating and signing of contracts. We are experts at helping clients secure contracts with the best possible vendors to meet their indirect spend needs. Our RFP management services are comprehensive and are designed to see you through from beginning to end — including the signing of a favorable contract with a highly-qualified vendor.

At this stage, you should also detail any necessary legal arrangements in the contract, like how you will handle material claims and losses, insurance requirements, industry compliance issues and confidentiality clauses.

Discover the Different Dryden Group can Make

Since 2001, we’ve been supporting clients with a wide range of procurement services, including indirect commodity RFP management. Our services have helped save clients more than $1.5 billion over that time. If you need indirect RFP management or other support and service for your procurement, Dryden Group is your source for expertise and guidance that makes a difference in your bottom line.